EU taxonomy improves transparency – don’t pretend it’s a bogeyman

The document critiques the EU Commission's decision to seek advice on increasing the flexibility of the EU taxonomy, arguing that such moves are concessions to polluting industries. It asserts that the taxonomy's purpose is to identify activities contributing to the ecological transition and improve disclosure, rather than to protect 'hard to abate' sectors. The author suggests that instead of weakening the framework, the Commission should develop a complementary "significantly harmful" taxonomy to help financial supervisors scale down support for climate-destructive activities.

• The EU Commission has requested advice from the Platform on Sustainable Finance regarding the use of the EU taxonomy framework to enable financing for the transition of a sustainable economy, which the author views as a potential opening to weaken the framework by including currently excluded activities.
• Opponents of the taxonomy argue that its restrictive criteria block the transition and competitiveness of "hard to abate" sectors that find it difficult to decarbonize.
• The EU taxonomy is designed to identify activities compatible with the ecological transition and to improve reporting and disclosure for financial and non-financial companies, rather than simply identifying activities that are less harmful than they were previously.
• The author proposes the creation of a complementary "significantly harmful" taxonomy to provide financial supervisors and authorities with a tool to reduce financial support for activities that conflict with climate goals.

APA

admin (2021). EU taxonomy improves transparency – don’t pretend it’s a bogeyman. Reclaim Finance. https://reclaimfinance.org/site/en/2021/01/28/eu-taxonomy-improves-transparency-dont-pretend-its-bogeyman/

Chicago

admin. EU taxonomy improves transparency – don’t pretend it’s a bogeyman. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/01/28/eu-taxonomy-improves-transparency-dont-pretend-its-bogeyman/.

Wikipedia

{{cite press release |last1=admin |title=EU taxonomy improves transparency – don’t pretend it’s a bogeyman |publisher=Reclaim Finance |date=28 January 2021 |url=https://reclaimfinance.org/site/en/2021/01/28/eu-taxonomy-improves-transparency-dont-pretend-its-bogeyman/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021taxonomy, author = {admin}, title = {{EU taxonomy improves transparency – don’t pretend it’s a bogeyman}}, publisher = {Reclaim Finance}, year = {2021}, month = jan, url = {https://reclaimfinance.org/site/en/2021/01/28/eu-taxonomy-improves-transparency-dont-pretend-its-bogeyman/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }